VP - Finance & Accounts

Ahmedabad, Gujarat, IndiaFull-time

Role Description

The incumbent in this position is required to provide strategic recommendations to the finance lead based on financial analysis & projections, cost accounting and allocation and revenue/expense analysis

Challenges

Streamlining systems and processes for effective, efficient flow of information between budgets, MIS and accounts, donor reporting, statutory as well as internal reporting requirements

Ensuring compliance under Companies Act, Foreign Contributions Regulation Act, Income Tax Acts and any other Acts as may be applicable from time to time to guarantee a fully compliant operating model for CIIE Initiatives and its affiliates.

Job Description

Accounting and Administration:

Develop tools and systems such as dashboards to measure the above metrics and provide critical financial and operational information to finance head

Serve as final point of escalation for Accounts Receivable/Accounts Payable issues

Serve as a key point of contact for internal and external auditors; manage preparation and support of all internal and external audits

Manage any third parties to which the above functions have been outsourced

Overseeing finance function of section 8 company, an affiliate company of CIIE Initiatives

Finance Planning, Analysis and Internal Control:

Oversee long-term budgetary planning & cost management in line with CIIE’s strategic plan as well as develop department budgets and monitor against actual expenditures

Go through the Agreements/sanction orders - set-up accounts including opening of a bank account, creating project name, budget head, expense head in the accounting tool, in consultation with the project head

Train the accounting team and project team so that the accounting and expense requests are made in accordance with the project expenses

Create a process note and SOPs for the accounting team

Take a periodical review on whether the booking of expenses are happening as per the guidelines, and does not exceed the budget

Prepare/Manager Cash Flow Statements (CFS) on fortnightly/monthly basis for all the projects and forecasting

Coordinate with management to continuously improve processes around accounting and finance as we scale

Ensure all staff and company contracts and agreements are updated and in place

Oversee cash flow, investment and asset management planning and ensure availability of funds as needed. Cash flow controls is to ensure that utilization is as per approved budget and also to ensure that any unutilized amounts in banks are shifted to fixed deposits

Reporting to Donors:

Ensure timely and comprehensive reporting to donors, as outlined in contracts with donor agencies in coordination with donor relations associate

Prepare annual balance sheet and related annexure, provide necessary documents to auditors for filing of tax and ensure that tax returns of CIIEI and its affiliates are filed within due date with Income tax and other statutory authorities

Quarterly/annually return filing for FCRA transactions on MHA

Oversee audit and other statutory compliance activities and requirements

Reply to scrutiny notices received from income tax departments

Preparation of submissions/letters and cross-check data with the return filed with the department

Qualifications, skills and Competencies

A degree in Chartered Accountancy. An MBA Finance or CWA or M Com. would be a plus

At least 8-10 years post qualification experience is a must

Relevant experience in non-profit organization is essential

Led or part of senior team in Finance function

Should have strong knowledge of non-profit accounting and compliances mainly under FCRA, Income Tax, Companies Act and other Acts as may be applicable